Analysts Set Bank of Montreal (BMO) PT at $111.58
Bank of Montreal (TSE:BMO) (NYSE:BMO) has been given a consensus rating of “Buy” by the twelve research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$111.58.
BMO has been the topic of several research reports. Barclays lowered their price objective on shares of Bank of Montreal from C$110.00 to C$105.00 in a research report on Friday, November 16th. Canaccord Genuity lowered their price objective on shares of Bank of Montreal from C$118.00 to C$111.00 in a research report on Thursday, November 22nd. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$120.00 to C$110.00 in a research report on Wednesday, December 5th. Eight Capital cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price objective for the company from C$124.00 to C$117.00 in a research report on Wednesday, December 5th. Finally, National Bank Financial lowered their price objective on shares of Bank of Montreal from C$115.00 to C$114.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 5th.
TSE BMO traded up C$0.32 on Tuesday, hitting C$92.79. The stock had a trading volume of 499,011 shares, compared to its average volume of 1,641,655. Bank of Montreal has a 52-week low of C$86.25 and a 52-week high of C$109.00.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Friday, February 1st will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, January 31st. This represents a $4.00 annualized dividend and a dividend yield of 4.31%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.96. Bank of Montreal’s dividend payout ratio (DPR) is currently 46.27%.
In other Bank of Montreal news, Director Ron Farmer bought 1,000 shares of Bank of Montreal stock in a transaction that occurred on Friday, December 14th. The shares were bought at an average price of C$89.35 per share, with a total value of C$89,350.00. Also, Director Craig Wyeth Broderick bought 1,130 shares of Bank of Montreal stock in a transaction that occurred on Wednesday, December 12th. The shares were acquired at an average cost of C$68.37 per share, for a total transaction of C$77,258.10.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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